Author: openjargon

  • Will ASX gold shares again outshine the market in FY 2025?

    a man wearing a gold shirt smiles widely as he is engulfed in a shower of gold confetti falling from the sky. representing a new gold discovery by ASX mining share OzAurum Resources

    With the 2024 financial year fading into the background and FY 2025 stretching ahead, we turn our focus to what investors might expect from ASX gold shares.

    As you may be aware, FY 2024 was a banner year for most gold miners, thanks to the surging gold price.

    The yellow metal is currently fetching US$2,361 per ounce. That’s up almost 23% from the US$1,925 that same ounce was trading for this time last year.

    Bullion’s strong performance has offered some heady tailwinds for ASX gold shares. In fact, Ora Banda Mining Ltd (ASX: OBM) rocketed 162% in 12 months amid strong gold exploration results, leaving the 8.3% gains posted by the All Ordinaries Index (ASX: XAO) far behind.

    The rising gold price has also helped boost the performance of the big S&P/ASX 200 Index (ASX: XJO) gold producers like Northern Star Resources Ltd (ASX: NST), Newmont Corp (ASX: NEM), Gold Road Resources Ltd (ASX: GOR) and Evolution Mining Ltd (ASX: EVN).

    But that’s the financial year just past.

    Now, what can investors expect from ASX gold shares in the year ahead?

    Will ASX gold shares outshine again in FY 2025?

    Before we dive in, there are obviously many company-specific factors that will impact each individual ASX gold share. Those include variables like the weather in their mining locations, production levels, cost management, and how they progress with exploration and new project development.

    But the price they receive for the yellow metal they dig from the ground is one factor that will impact every ASX gold share.

    As for what we can expect from the gold price, we defer to the World Gold Council (WGC).

    In their mid-year outlook report, the WGC noted, “Gold has thus far benefitted from continued central bank buying, Asian investment flows, resilient consumer demand, and a steady drumbeat of geopolitical uncertainty.”

    Looking ahead to FY 2025, ASX gold shares may face steady prices.

    “Current market trends indicate a rangebound performance from its current levels during H2… The global economy, as well as gold, seem to be waiting for a catalyst,” the WGC said.

    The report pointed out that more than 40% of global gold demand stems from consumers.

    As such, “The sharp upward trend in the gold price has dampened demand in some markets such as India and China. But positive economic growth can counteract some of this effect.”

    What could drive the gold price higher?

    The World Gold Council indicated a number of catalysts that could send the gold price higher in FY 2025 and support further gains for ASX gold shares.

    According to the report:

    For gold, we believe the catalyst could come from falling rates in developed markets, that attract Western investment flows, as well as continued support from global investors looking to hedge bubbling risks amid a complacent equity market and persistent geopolitical tensions.

    Gold, which pays no yield itself, tends to perform better in low or falling interest rate environments.

    Western retail investors have also largely been missing from the gold rally to date, with gold ETFs witnessing outflows.

    The WGC said this “suggests that, unlike previous periods when gold broke record highs, the market is still not saturated and could see another leg up”.

    Atop setting interest rates, central bank demand also has an important impact on the gold price, and by connection ASX gold shares.

    “We estimate that [central bank demand] contributed at least 10% to gold’s performance in 2023 and potentially around 5% so far this year,” the WGC said. “Questions as to whether demand from the official sector may lose momentum. But we still expect central bank demand to remain above trend this year.”

    And, while we hope global tensions ease in FY 2025, ASX gold shares would likely get a lift if geopolitical risks heat up.

    According to the WGC report:

    Geopolitical risk is particularly difficult to predict and may come from where it’s least expected. What is true, however, is that gold reacts to geopolitics, adding 2.5% for every 100-points the Geopolitical Risk (GPR) Index moves up.

    The post Will ASX gold shares again outshine the market in FY 2025? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Evolution Mining Limited right now?

    Before you buy Evolution Mining Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Evolution Mining Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Buy and hold these ASX ETFs for 10 years+

    A man points at a paper as he holds an alarm clock.

    I believe buy and hold investing is one of the best ways to grow your wealth.

    This is because it allows you to leverage the power of compounding over time.

    But don’t worry if you’re not a fan of stock-picking. That’s because exchange-traded funds (ETFs) are here to make life easier.

    They allow you to buy large numbers of stocks in one fell swoop. This means you can diversify your portfolio almost instantly.

    But which ASX ETFs could be great long term options? Let’s take a look at three that could be buys:

    BetaShares NASDAQ 100 ETF (ASX: NDQ)

    When making long term investments, it is never a bad idea to buy the best companies you can get your hands on. The good news is that the BetaShares NASDAQ 100 ETF is home to many of the biggest and best companies that the world has to offer.

    This hugely popular ASX ETF gives investors easy access to the 100 largest non-financial shares on the famous NASDAQ index. This is heavily, but not exclusively, focused on technology, with many household names among the ETF’s holdings. This includes Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Nvidia (NASDAQ: NVDA).

    Over the last 10 years, the index the fund tracks has generated a return of 22.7% per annum.

    VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

    Another ASX ETF that could be a great buy and hold option is the VanEck Vectors Morningstar Wide Moat ETF.

    Warren Buffett is a great investor to follow if you’re interested in making long term investments. His focus on investing in companies with sustainable competitive advantages (moats) and fair valuations has allowed him to smash the market for many, many decades.

    The VanEck Vectors Morningstar Wide Moat ETF allows you to invest in this style by putting together a group of shares that have the exact qualities that Buffett looks for when making investments.

    And just like Buffett, this ETF has delivered great returns. The index the ETF tracks has achieved an average return of 16.7% per annum over the past 10 years.

    Vanguard Australian Shares Index ETF (ASX: VAS)

    Finally, if you want to invest locally, then the Vanguard Australian Shares Index ETF could be a great option.

    This ETF allows you to buy a slice of the companies included in the ASX 300 index. These are Australia’s leading 300 listed companies and include names from all sides of the market.

    Among its holdings are companies as diverse as BHP Group Ltd (ASX: BHP), Lovisa Holdings Ltd (ASX: LOV), Macquarie Group Ltd (ASX: MQG), and Woodside Energy Group Ltd (ASX: WDS).

    Over the last 10 years, it has achieved a return of approximately 8% per annum.

    The post Buy and hold these ASX ETFs for 10 years+ appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Vaneck Investments Limited – Vaneck Vectors Morningstar Wide Moat Etf right now?

    Before you buy Vaneck Investments Limited – Vaneck Vectors Morningstar Wide Moat Etf shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Vaneck Investments Limited – Vaneck Vectors Morningstar Wide Moat Etf wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in BetaShares Nasdaq 100 ETF, Lovisa, and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, BetaShares Nasdaq 100 ETF, Lovisa, Macquarie Group, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF and Macquarie Group. The Motley Fool Australia has recommended Apple, Lovisa, Microsoft, Nvidia, and VanEck Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • American Airlines flight had to make emergency landing after man exposed himself and urinated in aisle, authorities say

    American Airlines
    An American Airlines flight was diverted this week after authorities said a 25-year-old man exposed himself and urinated in the airplane's aisle mid-flight.

    • A 25-year-old man exposed himself and peed in the aisle on an American Airlines flight, according to law enforcement.
    • Authorities said the man was arrested and charged with indecent exposure on July 3.
    • The incident is the latest in a long list of unruly passenger incidents on board commercial flights.

    An American Airlines flight was diverted this week after authorities said a 25-year-old man exposed himself and urinated in the airplane's aisle mid-flight.

    The Oregon man was arrested and charged with indecent exposure following the Wednesday incident, according to a press release from the US Attorney's Office for the Western District of New York.

    American Airlines flight 3921, which was operated by Envoy Air, was traveling from Chicago to Manchester, New Hampshire, on July 3, the airline told Business Insider in a statement.

    Crew members on board the aircraft later told authorities that the man exposed himself and urinated in the aisle of the plane, forcing the flight to divert from its original destination and land at the Buffalo Niagara International Airport, according to the attorney's office.

    Local law enforcement was called to the gate and took the man into custody, American Airlines said. The flight re-departed shortly after.

    "We thank our team members for their professionalism and our customers for their understanding," a spokesperson for the airline said.

    The man appeared in court on Wednesday and was released on his own recognizance, according to the attorney's office. The charge he faces carries a maximum penalty of six months in prison and a $5,000 charge.

    The Wednesday incident is just the latest in an ever-growing list of unruly passenger incidents on commercial flights, which have spiked since the pandemic.

    In December, a passenger aboard an Air New Zealand flight was fined after urinating into a cup during a deplaning delay. In 2023, a 21-year-old student was barred from future American Airlines flights after urinating on another passenger.

    Read the original article on Business Insider
  • Biden in first interview since debate debacle calls poor performance a ‘bad episode’

    Joe Biden
    Joe Biden in his first interview since last week's debate with Donald Trump said TKTK.

    • President Joe Biden appeared Friday in his first interview since last week's debate with Donald Trump.
    • Biden has been widely criticized by Democrats and Republicans alike for his poor debate performance.
    • In a preview of the interview, Biden said his gaffes were "no indication of any serious condition."

    President Joe Biden said debate night was a "bad episode" on Friday, in a preview of his first interview since his catastrophic appearance last week.

    Speaking with ABC News's George Stephanopoulos, 81-year-old Biden said his performance, while lackluster, was "no indication of any serious condition."

    "I was exhausted," Biden said. "I didn't listen to my instincts in terms of preparing and — and a bad night."

    Biden, who has long faced criticism over his age and fitness for office, is the subject of growing ire from Republicans and Democrats alike for his poor debate performance — in which he repeatedly fumbled his words and appeared to lose his train of thought.

    The Biden campaign has offered conflicting excuses for the sitting president's lackluster showing, including that he was sick, jetlagged, and poorly prepared for the event.

    In response to the tumult, some major Democratic donors, including Netflix cofounder Reed Hastings and Disney heiress Abigail Disney, have pledged to withhold funding from the party until Biden drops out of the race.

    While some reports indicate Biden has privately acknowledged that he might be unable to save his reelection bid, he has publicly braved the criticism and declared his plan to stay in the race.

    "I'm not letting one 90-minute debate wipe out three and a half years of work," Biden posted on X shortly before the ABC News interview aired. "I'm staying in the race, and I will beat Donald Trump."

    Read the original article on Business Insider
  • Can the BetaShares Nasdaq 100 ETF (NDQ) give ASX investors another 32% in FY25?

    A young man in a city street with a hopeful look on his face.

    By all accounts, the 2024 financial year that has just passed us by was a very successful one for ASX shares on the whole. Between the start of July 2023 and the end of June 2024, the S&P/ASX 200 Index (ASX: XJO) rose by a healthy 7.8%. If you include dividend returns, that gain stretches to around 12%.

    But let’s talk about how the BetaShares Nasdaq 100 ETF (ASX: NDQ) went.

    The ASX 200 might have had a very strong year indeed over FY24. But the Betashares Nasdaq 100 exchange-traded fund (ETF) made it look silly, if we’re to be frank.

    NDQ units started FY24 priced at $35.05 each. But by the end of last month, those units finished up the financial year at $45.51. That’s a gain worth 29.84%. If we include the value of the dividend distributions the ASX’s NDQ investors enjoyed over the 12 months to 30 June, that return stretches to roughly 32.1%.

    Not a bad effort for just one year of waiting. That kind of return is astonishingly good. There aren’t too many investors that could have replicated it in their own portfolios, that’s for sure.

    As the Betashares Nasdaq 100 ETF is mostly made up of the United States’ most prominent tech stocks, it’s not too difficult to see where these huge returns come from. To illustrate, the five largest positions in the NDQ portfolio are (in order) Microsoft, Apple, NVIDIA, Alphabet and Broadcom.

    • Microsoft shares rose 31.25% over FY24.
    • Apple shares were up 8.58%.
    • Nvidia stock shot up a whopping 192%.
    • Alphabet’s Class A shares enjoyed a 52.17% bounce over the year.
    • And Broadcom shares rocketed 85%.

    Together, these five stocks account for 35.1% of NDQ’s entire portfolio by weighting. So, with gains rolling out from these top five, NDQ units were always going to have a veritable party over FY24.

    But what about FY25?

    Can the NDQ ETF bring home another 32% for ASX investors in FY25?

    Well, that’s the million-dollar question. Normally, it would be prudent to state that a 30% gain from any investment, but particularly an index fund, is more likely to be one-off than a guide to future returns. As we stated earlier, a 30% gain is a rare feat in any stock market.

    Additionally, it’s also worth stating that past returns are never a guarantee of future prosperity with any investment.

    Saying that though, the BetaShares Nasdaq 100 ETF does have a long track record of delivering massive returns. As of 28 June, NDQ units have returned an average of 22.24% per annum over the past five years and 20.04% per annum since the ETF’s ASX inception in 2015.

    This ETF’s holdings are indisputably some of the best and most exciting companies in the world. So, I wouldn’t be surprised if investors continued to enjoy meaningful gains from NDQ units.

    However, that doesn’t make buying this ETF today a sure thing. Like FY24 before it, the Betashares Nasdaq 100 ETF’s FY25 will be made or broken by the performance of its top holdings.

    If the US economy remains strong, global geopolitical tensions don’t rise any further, and the presidential election in November goes relatively smoothly, then there’s a decent chance that NDQ’s top holdings (and thus the ETF itself) will have another successful year this financial year.

    But that is a lot of ifs. If one or more of these factors turns sour, the Betashares Nasdaq 100 ETF could well take a major haircut in FY25.

    Who knows how the NDQ ETF will fare on the ASX in FY25? Whatever happens, it will be well worth watching.

    The post Can the BetaShares Nasdaq 100 ETF (NDQ) give ASX investors another 32% in FY25? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Betashares Nasdaq 100 Etf right now?

    Before you buy Betashares Nasdaq 100 Etf shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Betashares Nasdaq 100 Etf wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Apple, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Apple, BetaShares Nasdaq 100 ETF, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom and has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Alphabet, Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Will you still be paying a mortgage in retirement?

    worried couple looking at their retirement savings

    A rising number of Australians expect to still be paying off their home loans when they enter retirement, according to superannuation provider Vanguard.

    A survey of 1,800 people aged over 18 found that 45% of Gen Z respondents believed they’d still be paying off their mortgage by the time they were ready to retire.

    Gen Zs were born between 1996 and 2010.

    The survey found 32% of Gen X respondents also expected to still be paying off their property loans in retirement.

    Gen Xers were born between 1966 and 1980. This is the next generation due to retire, with the elders of the group turning 58 this year.

    This is two years shy of the superannuation preservation age and nine years shy of the ‘retirement age’, which refers to the age at which Australians are eligible for the age pension.

    Gex Xers have varying intentions on how to deal with their mortgages when they decide to give up work.

    What will Gen Xers do when they enter retirement?

    Vanguard said 38% of Gen X respondents intended to keep paying off their mortgages in retirement.

    Another 25% planned to use their superannuation savings to wipe out the debt in one hit. And 18% said they would consider selling their mortgaged home and repaying the debt when they quit work.

    Among Millennials, 29% also think they’ll still have a mortgage when they enter retirement. Millennials were born between 1981 and 1995.

    Vanguard’s How Australia Retires report also revealed that 8% of retirees today are paying off a home loan.

    The latest data from the Australian Bureau of Statistics (ABS) shows there are 4.2 million retirees in the community today. So, 8% equals 336,000 homeowners.

    Expert says this is a ‘sleeper issue’ in our economy

    Vanguard Australia managing director Daniel Shrimski said the rising number of people expecting to retire with a mortgage or rent their homes during retirement was a “sleeper issue”.

    He said:

    After working hard and saving for the majority of our lives, Australians want to feel excited about a financially secure retirement.

    However, our research has revealed nearly 1 in 5 Australians are renting in retirement, and 30 per cent of working Australians expect to still be paying a mortgage after they retire.

    This is a bit of a sleeper issue when it comes to retirement. We tend to presume we’ll be homeowners and mortgage free – but having unresolved debt or needing to drawdown on savings to pay rent is likely to be a big financial burden for many, especially if full-time paid work is no longer an option.

    This is an important point, considering that four of the top five reasons for retirement are beyond the control of workers.

    They include sickness, injury, or disability (which prompted 13% of current retirees to quit work), being retrenched, dismissed, or unable to find work (5%), and caring for an ill, disabled, or elderly person (3%).

    This is one of the reasons why many Australians retire earlier than initially planned. As we’ve previously reported, the average age at which most workers intend to retire is 65.4 years. However, existing retirees report retiring much earlier than this at an average age of 56.9 years.

    Shrimski added:

    This is why it’s so important that a robust superannuation balance is part of a ‘whole of wealth’ retirement plan, so Australians can have confidence and security in retirement.

    According to the research, homeowners who are not in a relationship have a 31% higher chance of retiring with a mortgage.

    The post Will you still be paying a mortgage in retirement? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Biden and Trump are vying for the veteran vote in the 2024 race. Here’s how their policies on veteran affairs stack up.

    Joe Biden and Donald Trump participate in a debate
    Joe Biden and Donald Trump participate in a debate at the CNN Studios in Atlanta, Georgia.

    • Joe Biden and Donald Trump are both vying for the veteran vote as they seek a second term in office.
    • Biden and Trump both signed laws to expand veteran benefits: the PACT and Mission Acts, respectively.
    • Both acts were praised by veterans, but implementation faced challenges under each administration.

    President Joe Biden and former President Donald Trump have both sought to claim the mantle of veterans champion as each vies for a second term in office.

    The campaign has often focused on the symbolic and intangible, such as Biden visiting a World War I cemetery during a recent trip to France that Trump opted against visiting during his tenure after reportedly deriding veterans in private, or Republicans hitting Biden for falsely claiming at last week's presidential debate that no US troops have died on his watch.

    But both also have legislative track records from their first terms in office, as well as well-documented accounts of how the Department of Veterans Affairs functioned under their administrations, that could point to how a second term would play out.

    Biden shepherded through the PACT Act, which has been described as the biggest expansion of veterans benefits in a generation. Trump's biggest veterans-related legislation was the Mission Act, which expanded veterans' ability to seek VA-funded care outside of the VA system.

    "Someone who may have benefited from the passage of the Mission Act, for that individual, it's the most important thing," said Patrick Murray, legislative director at the Veterans for Foreign Wars. "Someone who may have had a rare cancer that was benefited by the PACT Act, that's the most important thing to them. So, different veterans who had different illnesses, injuries, disabilities, whatever, may have benefited from either of the bills and, to those veterans, that's the most important thing."

    Other veterans groups echoed the importance of both bills.

    "We fought hard for the passage of the Mission and PACT acts because all veterans deserve the best care possible from VA," Chanin Nuntavong, the American Legion's executive director for government affairs, told Military.com in an email. "This means untangling the knots often associated with securing their earned healthcare benefits; expanding the rules to cover all those eligible; and lifting barriers to access, especially to those who live in rural areas."

    President Joe Biden delivers a speech about the PACT Act while standing in front of a poster that reads "Support our Veterans"
    President Joe Biden delivers a speech about the PACT Act at the Westwood Park YMCA in Nashua, New Hampshire.

    The PACT Act was the culmination of a yearslong effort from veterans, family members, and other advocates to get better recognition and care for ailments believed to be caused by exposure to burn pits and other toxins during their military services.

    The legislative push got a significant boost when Biden, who has said he believes his son Beau's fatal brain cancer was caused by burn pit exposure, endorsed it at a State of the Union address, giving it the momentum needed to become law.

    By the VA's own accounting, the law has resulted in more than a million new benefits claims approved and more than 300,000 new enrollments in VA health care.

    The implementation has not been without issues. Most significantly, senior VA executives were improperly paid $10.8 million in bonuses that were intended to retain employees with critical skills needed to handle the influx of work from the PACT Act. Veterans have also given one of the most high-profile elements of the PACT Act — toxic exposure screenings — lackluster reviews.

    But, overall, veterans organizations have celebrated the PACT Act as a historic achievement.

    "Simply put, the bill represents the largest expansion of VA care and benefits for those exposed to harmful substances during their military service in history," Joe Parsetich, then the national commander for the Disabled American Veterans, said at the time of the passage in 2022.

    The Mission Act, meanwhile, was an effort to fix issues with the earlier Choice Act, a 2014 law that was borne out of the VA wait-time scandal. Trump often incorrectly refers to his achievement as "Choice," even though the earlier bill with the same name was signed by his predecessor, President Barack Obama.

    Then-US President Donald Trump holds up the VA Mission Act he signed
    Then-US President Donald Trump holds up the VA Mission Act of 2018 he signed at a ceremony in the Rose Garden of the White House.

    The Mission Act expanded the number of veterans eligible to receive private healthcare funded by the VA and consolidated several different programs for community care into one. Under the law, veterans can seek outside care if they face more than a 30-minute drive for primary care or mental health services or 60 minutes for specialty care, or a 20-day wait for a primary care or mental health appointment and more than 28 days for specialty care.

    Republicans have alleged that the VA under the Biden administration has undermined the Mission Act by limiting the number of referrals to community care. VA officials and Democrats, by contrast, have expressed concern about ballooning community care costs since the law's implementation.

    Another major element of the Mission Act, a commission that studied the VA's infrastructure needs, fizzled out when it recommended closing 17 medical centers and dozens of aging or underused clinics. Lawmakers in both parties who had facilities on the chopping block refused to move forward.

    "What was passed was not perfect. Nothing ever is," the VFW's Murray said, noting proposed updates to community care pending in Congress right now. Still, the Mission Act "was huge, unprecedented."

    "And then only a few years later, there was an even huger, more unprecedented bill that followed it," he added of the PACT Act. "So, both, at the time, were huge, were generational things, and then the next one just follows. So, we will see what comes in five to 10 years if there's another one that we'll be talking about."

    Outside of legislation, Trump and Biden have divergent records on VA staffing and leadership.

    Then-President Donald J. Trump gestures behind a model of a rocket while sitting beside US Secretary of Veterans Affairs David Shulkin.
    Then-President Donald J. Trump gestures behind a model of a rocket while sitting beside US Secretary of Veterans Affairs David Shulkin.

    Much like the rest of his administration, Trump's VA saw significant leadership turmoil.

    Trump's first VA secretary was David Shulkin, a VA undersecretary during the Obama administration who was one of Trump's last picks for Cabinet secretaries ahead of his inauguration. Shulkin was ousted by Trump a little more than a year into the job after an inspector general report found he took a trip to Europe that involved more sightseeing than official business, used taxpayer funding to have his wife accompany him on the trip, and improperly accepted tickets to a Wimbledon tennis match as a gift.

    To replace Shulkin, Trump first nominated current Rep. Ronny Jackson, R-Texas — at the time, a Navy doctor who served as the White House physician and won Trump's favor by showering him with praise. Jackson, though, was forced to withdraw from consideration after allegations that were later confirmed by an inspector general that he drank on the job, overprescribed medications, and created a hostile work environment.

    After Jackson's bid ended, Robert Wilkie, who had been working at the Pentagon, was nominated and confirmed as VA secretary. He lasted through the end of the Trump administration.

    VA policy during the Trump administration was also directed by a trio of business executives with personal ties to Trump and memberships at his Mar-a-Lago club, according to a 2021 investigation by congressional Democrats that concluded the arrangement "violated the law and sought to exert improper influence over government officials to further their own personal interest."

    US President Joe Biden and Secretary of Veterans Affairs Denis McDonough walk through the Cross Hall of the White House.
    US President Joe Biden and Secretary of Veterans Affairs Denis McDonough walk through the Cross Hall of the White House.

    Biden's VA has had comparatively steadier leadership. Denis McDonough, who was Obama's chief of staff, has served as VA secretary since the beginning of the Biden administration.

    There has been some turnover lower down on the organizational chart, including Donald Remy stepping down as deputy secretary last year. His replacement, Tanya Bradsher, the first woman to permanently be the VA No. 2, had a somewhat bumpy Senate confirmation over allegations she did not adequately respond to concerns from whistleblowers and Republican lawmakers that an IT system was exposing veterans' personal information.

    There have been some calls from Republicans for officials involved in the PACT Act bonus scandal to resign, including at least one call for McDonough to step down. But the pressure has so far not reached a groundswell resulting in any resignations, with McDonough saying last month he continues to have faith in his leadership team.

    Overall, the highest trust scores for the VA under each administration were nearly tied, according to Wisconsin Watch, a nonpartisan investigative news outlet. They were at 80.2% in 2021 under Trump and 80.4% in 2024 under Biden.

    Read the original article on Business Insider
  • These ASX shares can rise 25% to 40%

    A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today

    If you want to supercharge your investment portfolio, then it could be worth checking out these ASX shares in this article.

    That’s because they have been named as buys and tipped to deliver mouth-watering returns over the next 12 months. Here’s what analysts are saying about them:

    Regal Partners Ltd (ASX: RPL)

    This fund manager’s shares could be undervalued according to analysts at Bell Potter.

    It highlights that the ASX share has come under pressure since some significant selling from a former insider. However, rather than being concerned by the selling, it feels this has created an “excellent” buying opportunity. The broker commented:

    RPL is performing well, generating strong net flows, strong investment returns, high fee income and benefitting from increased scale through acquisitions. The shares have been weak since the sell down of stock by Rob Luciano on 21 June. (10m shares sold at $3.22, a 9% discount). We feel this recent weakness offers an excellent opportunity to buy into an attractive growth story, with strong momentum and a widening shareholder base. Updating our model for the performance fees and FUM increases our FY24 EPS figure by 0.7% but reduces FY25 and FY26 by 2.3%.

    Bell Potter has a buy rating and $4.75 price target on its shares. This implies potential upside of almost 40% from current levels.

    Treasury Wine Estates Ltd (ASX: TWE)

    Over at Goldman Sachs, its analysts see plenty of upside in this wine giant’s shares.

    The broker highlights that its shares are trading on lower than normal multiples. This is despite its very positive outlook thanks to acquisitions, the removal of Chinese tariffs, and the expansion of the Penfolds business. It said:

    Our Buy rating on TWE is premised on accelerating double-digit EPS growth in FY24-27e driven by 1) continued global expansion of Penfolds, especially post the removal of China import tariffs on Australian wine; our recent channel checks suggest positive reception to the returning Australian sourced Penfolds and we expect a ~63pct pre-tariff recovery by 2027; and 2) its rank as the #1 luxury wine company in the US (most sales in luxury wine) with the recent acquisitions of Frank Family Vineyards (FFV) and DAOU which have been growth and margin accretive, combined with a stable portfolio of Premium Brands. TWE is trading modestly below the 5-year historical P/E average.

    Goldman has a buy rating and $15.40 price target on its shares. This suggests that they could rise 26% from current levels.

    WA1 Resources Ltd (ASX: WA1)

    Analysts at Bell Potter also think that this niobium explorer could be an ASX share to buy if you have a high risk tolerance. This is thanks to its Luni niobium project, which is on track to be a globally significant project. The broker commented:

    We see the potential for Luni to be a globally significant niobium project, capable of generating on average A$514m in annual EBITDA. Using Lynas as a comp, which trades on a 10.9x EV/EBITDA multiple, yields an enterprise value of A$5.6bn for WA1.

    Bell Potter has a speculative buy rating and $28.00 price target on its shares. This implies potential upside of 32% for investors.

    The post These ASX shares can rise 25% to 40% appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Regal Funds Management Pty right now?

    Before you buy Regal Funds Management Pty shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Regal Funds Management Pty wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why did the Core Lithium share price crash 90% in FY 2024

    An unhappy investor holding his eyes while watching a falling ASX share price on a computer screen.

    The Core Lithium Ltd (ASX: CXO) share price came under intense selling pressure in the financial year just past.

    Shares in the All Ordinaries Index (ASX: XAO) lithium stock closed out FY 2023 trading for 90 cents. On 28 June, the last day of FY 2024, shares closed the day at 9.3 cents apiece.

    That put the Core Lithium share price down a painful 89.7% over the financial year.

    Here’s why the ASX lithium miner just finished off a year to forget.

    What happened to the Core Lithium share price in FY 2024?

    Most of the pressure heaped onto the Core Lithium share price came from an ongoing slide in global lithium prices.

    With lithium supplies ramping up faster than demand growth over the year, the lithium carbonate price ended FY 2024 at around US$11,000 a tonne. That’s well down from the 2022 all-time highs. And it’s less than a third of the US$32,000 a tonne that lithium prices averaged in 2023.

    While there were a few sizeable moves higher for the Core Lithium share price over the 12 months, the trend was sharply lower, as you can see in the chart above.

    The 2024 calendar year started poorly.

    On 5 January, the miner announced it was suspending mining operations at its flagship Finniss Project in the Northern Territory in early January. With lithium prices crashing, management said it was unprofitable to continue mining.

    While continuing to process its established ore stockpiles, Core Lithium indicated it was unlikely to resume operations at Finniss until lithium prices have recovered.

    The company’s half-year results, released after market close on 12 March, also left much to be desired.

    For the first six months of FY 2024, Core reported revenue of $135 million and a loss after tax of $167 million. The company also announced that CEO Gareth Manderson was leaving the top job.

    The Core Lithium share price crumbled by 30% over the five trading days following the half-year announcement.

    And the miner’s 3Q FY 2024 results, released on 29 April, did little to placate shareholders.

    While Core continued to process ore stockpiles, quarterly spodumene concentrate production declined by 14% from the prior quarter.

    Commenting on those results at the time, interim CEO Doug Warden acknowledged that, “Following the decision to cease mining in January 2024, it has been a challenging quarter for Core employees, contractors and shareholders.”

    As for FY 2025, the Core Lithium share price closed the first trading week of the new financial year flat at 9.1 cents.

    The post Why did the Core Lithium share price crash 90% in FY 2024 appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Core Lithium Ltd right now?

    Before you buy Core Lithium Ltd shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Core Lithium Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Bell Potter names 3 of the best ASX 200 stocks to buy in July

    If you’re in the market for some new ASX 200 shares in July, then it could be worth listening to what analysts at Bell Potter are saying.

    That’s because they have just revealed their favoured picks for the month ahead. Three on its list this month are named below. Here’s what the broker is saying about them:

    Mineral Resources Ltd (ASX: MIN)

    Bell Potter continues to see a lot of value in this mining and mining services company’s shares at current levels.

    Its analysts like the company due to the diversity of its operations and its strong production growth potential. It said:

    Our Buy view is underpinned by MIN’s earnings diversification, strong insider ownership, clearly articulated strategies, expertise in contracting and internal growth options at Onslow as well as potential lithium expansions including into downstream. All up, MIN offers diversified exposure to steady income streams from the contracting business and market-driven commodity exposure coupled with earnings derived from both lithium and iron ore.

    Bell Potter has a buy rating and $84.00 price target on the ASX share. This implies potential upside of approximately 45% for investors.

    Neuren Pharmaceuticals Ltd (ASX: NEU)

    Another ASX 200 stock that could be a buy in July according to the broker is Neuren Pharmaceuticals. It is a growing biotechnology company developing treatments for rare diseases of the central nervous system.

    Bell Potter is particularly positive on its NNZ-2591 product and believes it could be a key driver of growth in the coming years. It said:

    In the last six months, NNZ-2591 reported highly encouraging Phase 2 data in two rare diseases. NEU will once again have first-to-market opportunities in these two rare diseases, assuming future Phase 3 trials are successful. While short-term news will continue to be impacted by Acadia’s commercialisation of NEU’s first drug, called Daybue, we maintain our BUY recommendation for investors who have a longer 2 to 3-year investment horizon.

    Bell Potter has a buy rating and $28.00 price target on its shares. This suggests that upside of 40% is possible for investors.

    Perpetual Ltd (ASX: PPT)

    The broker believes that this ASX 200 stock could be seriously undervalued by the market. Especially given the recently announced sale of its Corporate Trust (CT) and Wealth management (WM) businesses to private equity firm KKR.

    It believes this makes the remaining business cheap compared to peers. It explains:

    Perpetual announced a disposal of the Corporate Trust (CT) and Wealth Management (WM) businesses to KKR for $2.175bn. This price was ahead of our expectations ($1.5-1.9bn), and should result in a cash payment to shareholders of between $804m-1,104m or $6.95- 9.55 per share, dependent upon the assumptions, particularly tax and deal costs. We estimate the residual asset management business is being valued at between $1.3-1.6bn or between 3.5x-5.5x EBITDA. We believe this is too low for an international asset manager. Valuing the residual asset management business on 6.3x FY25 would imply a value of $2.1bn or $18.17/per share.

    Bell Potter has a buy rating and $27.60 price target on its shares. This reflects ~$18.17 for the remaining business and a forecast cash distribution of ~$9.50. Based on its current share price, this implies potential upside of 28% for investors.

    The post Bell Potter names 3 of the best ASX 200 stocks to buy in July appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Mineral Resources Limited right now?

    Before you buy Mineral Resources Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Mineral Resources Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.